ParCor Finals Reviewer

ParCor Finals Reviewer

University

48 Qs

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ParCor Finals Reviewer

ParCor Finals Reviewer

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University

Practice Problem

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48 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary characteristic of share capital in a corporation?

A) It represents the personal investments of the directors.
B) It is the amount of money invested by the government in the corporation.
C) It represents the money raised through the issuance of shares to stockholders.
D) It represents a loan to the corporation from its creditors.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is true about the authorized share capital of a corporation?

A) It is the capital needed of the corporation.
B) It is the total value of shares that a corporation is authorized to issue as specified in its Articles of Incorporation.
C) It is the same as the number of shares issued by the corporation.
D) It is the same as the retained earnings of the corporation.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a corporation issues shares for a non-cash asset, how is the share capital recorded?

A) The share capital is recorded at the par value of the shares issued.
B) The share capital is recorded at the fair value of the non-cash asset.
C) The share capital is recorded at the historical cost of the non-cash asset.
D) The share capital is recorded at the book value of the non-cash asset.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the Philippines, which government agency is responsible for the registration of share capital in a corporation?

A) Securities and Exchange Commission (SEC).
B) Bureau of Internal Revenue (BIR).
C) Department of Trade and Industry (DTI).
D) Bangko Sentral ng Pilipinas (BSP).

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would decrease a corporation’s share capital?

A) Issuance of additional shares.
B) Stock split.
C) Redemption of shares.
D) Payment of dividends in shares.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between par value and no-par value shares?

A) Par value shares have a nominal value assigned by the corporation, while no-par value shares do not.
B) Par value shares are issued at a premium, while no-par value shares are issued at par.
C) No-par value shares can only be issued by government-owned corporations.
D) There is no difference; both types are treated equally in accounting.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a corporation issues shares at a price above par value, the excess is recorded as:

A) Share premium.
B) Retained earnings.
C) Ordinary Shares.
D) Accumulated surplus.

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